Expedia reported a better-than-expected increase in fourth-quarter revenue, helped by higher gross bookings. However, the company’s adjusted profit fell short of Wall Street estimates, due to higher expenses in the quarter.
The company said gross bookings rose 8 percent to $16.10 billion in the quarter ended Dec. 31, primarily driven growth in Expedia.com and Hotels.com.
Bellevue, Washington-based Expedia said domestic gross bookings increased 5 percent, while international gross bookings rose 13 percent.
The company’s total revenue rose 23.2 percent to $2.09 billion, beating analysts’ average estimate of $2.07 billion, according to Thomson Reuters I/B/E/S.